Frasers Property (Thailand) Public Company Limited (“the Company”), formerly known as TICON Industrial Connection PCL (“TICON”) was established in 1990 and listed on the Stock Exchange of Thailand in 2002. The Company engages in development and management of high standard industrial properties for ready-built factory and ready-built warehouse in strategic locations nationwide. Subsequent to shareholder restructuring in 2019, the Company was officially rebranded to "Frasers Property (Thailand) PLC" and traded on the Stock Exchange of Thailand under a new trading ticker "FPT", with the commencement of a new business platform under the global brand "Frasers Property". Underlying the strategic direction of the Group Company, the Company successfully made an acquisition of Golden Land Property Development Public Company Limited (“GOLD”), and become the 1st fully integrated real estate platform in Thailand with enlarged multi-segment property execution capabilities across a well-diversified platform spanning residential, commercial and high quality hospitality portfolio.
-
1990
TICON Industrial Connection PCL (“TICON”) was established to engage in development and management of industrial properties for ready-built factory and ready-built warehouse.
-
2002
TICON was listed on the Stock Exchange of Thailand (SET).
-
2005
TICON Property Fund (TFUND) was established and listed on the Stock Exchange of Thailand (SET) to invest in factories.
-
2009
TPARK Logistics Property Fund (TLOGIS) was established and listed on the Stock Exchange of Thailand (SET) to invest in warehouses.
-
2013
TICON Industrial Growth Leasehold Property Fund (TGROWTH) was established and listed on the Stock Exchange of Thailand (SET).
-
2016
The Company increased capital via private placement by issuing 735 million common shares to Frasers Property Holdings (Thailand) Company Limited (FPHT), who became a major shareholder with a 40% stake in the Company.
-
2017
The Company converted three property funds; TFUND, TLOGIS and TGROWTH into Frasers Property Thailand Industrial Freehold and Leasehold REIT or “FTREIT” (previously known as TICON Freehold & Leasehold Real
Estate Investment Trust or “TREIT”). FTREIT has become the largest industrial and logistics trust in Thailand.
-
2018
April 2018
The Company partnered with ST Telemedia Global Data Centre to develop and operate Thailand’s first hyperscale data centre built to global standards and strategically located in central Bangkok.
May 2018
Frasers Assets Co., Ltd. invested 26.10% in total shares of the Company, resulting in a total of 67.05% shareholding proportion held by Frasers Property Holdings (Thailand) Co., Ltd. and Frasers Assets Co., Ltd. Consequently, FAS proceeded a tender offer leading to Frasers Group’s shareholding of 89.46% in total shares of the Company.
August 2018
The Company expanded into smart solution business, through strategic partnering with JustCo, Southeast Asia’s largest premium co-working space provider to invest and operate co-working office service in Thailand, with a prime city centre location well-addressed to variety of needs across new generation professionals and organizations based on an enhanced shared space experience conductive to business collaboration and networking.
October 2018
TRA Land Development Co., Ltd., a joint venture between the Company, Rojana Industrial Park PLC and Asia Industrial Estate Co., Ltd., won the auction bidding for a 4,315-rai plot of land located on Bangna-Trad Road KM.32, Bang Bo, Samutprakan for development into a large-scale industrial township with a combination of commercial mixed-use and residential projects.
-
2019
January 2019
• TICON partnered with Sahathai Terminal, Thailand’s leading provider of a full range port solutions and logistics services, to develop a new strategic cluster of modern logistic park and distribution center located at Poochaosamingprai on the outskirts of Bangkok.
• The company has rebranded its official name and brand from “TICON Industrial Connection PLC” to “Frasers Property (Thailand) PLC” and changed its trading ticker on the Stock Exchange of Thailand (“SET”) from “TICON” to “FPT”.
February 2019
The Board of Directors Meeting resolved to approve the acquisition of Golden Land Property Development PLC (GOLD) by means of a voluntary tender offer, which GOLD’s shareholders sold a total of 2,195.9 million shares to the Company representing a 94.50% shareholding at total value of THB 18,665 million. As a result, the combined total assets of GOLD and Frasers Property Thailand accounted for more than THB90 billion, effectively positioning Frasers Property Thailand as one of the country’s leading listed real estate developers with multi-segment property execution capabilities.
April 2019
• Frasers Property Thailand partnered with PBA Group, a Singapore-based technology provider of robotics and automation solutions across all industries, to operate a business in relation to providing robotics and automation solutions and services for factories and warehouses in Thailand.
• Frasers Property Thailand formed a strategic joint-venture agreement with Mitsui Fudosan, Japan’s largest real estate developer, in order to invest and develop large-scale smart industrial and logistics parks in high potential locations.
-
2020
June 2020
The Board of Directors appointed Mr. Thanapol Sirithanachai as Country Chief Executive Officer (CCEO) in conjunction with the new executive leadership positions. The new organizational structure and executive team will uplift the positioning of Frasers Property Thailand towards the country’s first fully integrated real estate platform with a diversified portfolio spanning residential, industrial and commercial properties. The new structure will help create a financially stronger industry leader in real estate, while enabling FPT to balance its business interests, develop new revenue streams and resilience in a challenging business environment.
August 2020
The Company has completed the delisting process of the securities of GOLD according to the required procedure of the Stock Exchange of Thailand (SET). On 4 August 2020, the SET approved the delisting of GOLD’s common stocks with effect from 11 August 2020 while the last trading day was on 10 August 2020.
-
2021
November 2020
The Board of Directors’ Meeting has resolved to approve Golden Land Property Development Public Company Limited, a subsidiary of the Company, to acquire all of the shares in Univentures REIT Management Co., Ltd. (“UVRM”), which is a real estate investment trust manager (REIT manager), in an amount of 100 percent of all of the shares in UVRM from Univentures Public Company Limited, having the total value of THB 32,000,000. This investment is in accordance with the growth strategy of the Company in relation to investments and real estate business development.
March 2021
The Company has incorporated eight new subsidiaries in Vietnam and in Singapore to support the business operation in Vietnam as well as overseas expansion of the Group Company in the future, with Frasers Property Thailand (Vietnam) Pte. Ltd. as a center of investing in Vietnam alongside other entities to support investment plan of the group comprising New Motion Pte. Ltd., Alps Ventura Pte. Ltd., Grand Trail Holdings Pte. Ltd., Amigos An Phu Holding Pte. Ltd., Amigos An Phu (Singapore) Pte. Ltd., Grand Trail Investment Pte. Ltd., and New Motion Industrial Co., Ltd. With an objective to develop real estate industry in Vietnam, New Motion Industrial Co. Ltd, has engaged in the acquisition of land located in Binh Duong City which has an area of 46.8 hectares for development of industrial zone and logistics to support industrial estate as well as factory and warehousing leasing operation in Vietnam. The total value of the transaction was USD 47.6 million or THB 1,435.2 million. (based on Bank of Thailand exchange rate as at 3 March 2021 which is the completion date of the transaction)
The Board of Director’s Meeting resolved to approve Golden Land (May Fair) Co., Ltd. (“GOLD MF”), an indirect subsidiary of the Company to offer the purchase proposal of remaining leasehold rights in land and building in Mayfair Marriot Executive Apartment Project, located at Soi Lang Suan, Lumpini Subdistrict, Pathumwan Bangkok under the Land and Building Lease Agreement entered into by and between GOLDMF and GOLD Property Fund (Leasehold) (“GOLDPF”) which has the remaining leasehold rights of approximately 46 years including all of the Project’s properties, furniture and devices, as well as all existing incentives which GOLDPF has in the Project, under an offering price equivalent to THB 1,743 million, in order to enhance the Project’s revenue generation capabilities in the future. The Offer to Purchase transaction is subject to the further consideration of GOLDPF in compliance with relevant regulations including obtaining relevant consent, waiver or approval from relevant third parties or authorities (if any).
Frasers Property Industrial (Thailand) Company Limited (“FPIT”), a subsidiary of the Company received a transfer of additional ordinary shares in Wangnoi Logistics Park Company Limited from a former shareholder, in a total portion of 49% of the total issued shares. Such transaction has caused the increase of the Company including its subsidiaries’ shareholding proportion in Wangnoi Logistics Park Company Limited to rise from 51% to 100%.
April 2021
The Board of Executive Committee’s Meeting has resolved to approve Golden Land Property Development Public Company Limited, the Company’s subsidiary, to acquire the ordinary shares in the aggregate amount of 5,000,000 shares equivalent to 100% of the total ordinary shares in Silom Corporation Company Limited, including acceptance of the assignment of the right to receive payment under the promissory notes issued by Silom Corporation Company Limited to its existing shareholder in the amount of THB 457,344,170, altogether equivalent to the total transaction value at THB 1,090 million, with the objective for investment in Silom Centre Project to operate rental office and retail space located at Silom and Rama IV Junction on Silom Road.
-
2022
November 2021
The Company has approved Golden Land (Mayfair) Company Limited, an indirect subsidiary of the Company, to purchase the remaining leasehold rights in the land and building of Mayfair Marriott Executive Apartment projects in an amount of THB 1,743 million.
December 2021
The Company has approved Sathorn Property Management Company Limited, a wholly-owned subsidiary of the Company, has purchased 25,000,000 ordinary shares or 100 percent shareholding in TCCCL Sena Company Limited at the total value of THB 591,375,000, which purposed to develop a residential real estate development project called The Royal Residence.
April 2022
The Company has incorporated a new wholly-owned subsidiary, Fraser Propersty Thailand (Indonesia) Pte. Ltd., to support the business operation in Indonesia.
May 2022
The Board of Executive Committee’s Meeting has resolved to establish two new wholly-owned subsidiaries to support the business operation in Vietnam, consisting of NM1 Pte. Ltd and NM1 Vietnam Company Limited with an objective to be a center of investing in Vietnam and to develop industrial real estate in Vietnam, respectively.
June 2022
The Company has approved the subsidiaries to engage in the acquisition of ordinary shares in PT SLP Surya TICON Internusa (“SLP”), an associated company in Indonesia, and PT Surya Internusa Timur (“SIT”), a joint venture company in Indonesia. Therefore, the Company has increased stakes in SLP from 25% to 75% and in SIT from 33.3% to 100%, respectively. In consequence, both SLP and SIT have become the Company's subsidiaries.
-
2023
May 2023
The Company has entered into the Share Purchase Agreement with its major shareholder, Frasers Property Holdings (Thailand) Company Limited (“FPHT”) to sell all shares or 100 percent shareholding in Frasers Property Technology (Thailand) Company Limited (“FP TECH”) as held by the Company and its subsidiaries to FPHT at the total value of THB 460,000,000.- (“SPA”). FP TECH is a wholly-owned subsidiary of the Company to jointly invest in data center business with ST Telemedia Global Data Center Group through the holding of shares in STT GDC (Thailand) Co., Ltd. (“STT GDC”), which is an associated company (joint venture) of the Company. Therefore, FP TECH and STT GDC cease to be a subsidiary and an associated company of the Company, respectively.
-
2024
December 2023
The Company has established Gold Venture 1 Company Limited for investment in various businesses, with a total registered capital of THB 1,000,000. The Company held 99.48% shares via Golden Land Property Development Public Company Limited, a subsidiary of the Company.
The Company has entered into an agreement disposing all its shares held in JustCo (Thailand) Co.,Ltd. ("JCT"), a joint venture company operating as a co-working space, in the proportion of 51% to JustCo Holding (Thailand) Co., Ltd. which is a connected person of the Company, with a transaction value of THB 316,000,000. The sale of shares in JCT is considered a restructuring of the Company’s investment to focus on core business group which is real estate business.
